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Investment 101: 3 Quickie Tips You Should Know Beforehand

When you want to earn a little extra on top of your income or your business earnings, investing is often a popular course of action. If you’re new to this, there are a few basic tips that you should take to heart. Lucky for you, we are willing to share some of those basic tips for today!

If you’re going to be investing your money in stocks or trading, you will want to remember:

Separate the Investment Money

If you’re a gambling person, this often refers to the bankroll. This is the money that is separate from all your other funds that is dedicated to a particular cause—in this case: investment. If you are ever going to dive into the world of investments, you need to make sure that you have a set amount of money that you can use and realistically, afford to lose.

Not All Brokers Want to Help

You really need to be discerning when it comes to the brokers that you hire or choose to work with. No matter what field exists there will be unsavory people that aim to take advantage of others. The world of Forex is no different.

There can be a lot of money to be made here so you need to be careful about the broker that you go with.

Learn As You Go

If you are truly serious about investing your money in stocks or in Forex, you will need to pick up information as you go along. You must never be 100% reliant on your broker to tell you “what’s a good investment right now” or what your plan should be.

You will need to understand that brokers can help but ultimately it will be up to you to decide if something is good or not.

Investing is not as scary or as daunting as it may seem on paper and in theory. All you need to do is to approach things rationally and keep our tips in mind!

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Hunting for Forex: Why the Type of Broker You Get Matters

When you’re itching to cut yourself a slice of the Forex market pie, it is always important to know that you don’t have to tackle it alone. Specifically, Forex brokers can really prove to be an invaluable aid to your goals.

However, this isn’t to say that Forex brokers come in a single type. There are different sort of Forex brokers out there, such as a Forex Introducing Broker or Stock Broker. It is important to note what type of broker you’re getting because you may experience varying things. Things like:

Services

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The services that you can get will vary in accordance to the type of broker you get. Usually, when you just get a general investment broker, you will do all your interaction via phone and they do not personally do the trading on your behalf—their firm’s floor manager will do that.

If you want something that’s a bit more personal so that you can really pick the mind of the person who is supposed to be helping you, familiarizing yourself with the different broker types can help.

Trading Platforms

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Just like there are hundreds, if not thousands of Stock and Forex brokers, there are hundreds of Forex trading platforms.  Each broker is going to have unique trading platforms that they offer.  It is important that you find a broker that has the best Forex trading platforms available.  Because there are so many platforms to choose from this can be difficult. You have MT4, MT5, TradingView, fxTrade, and the list goes on and on.  If you use an introducing broker though they will be able to help guide you in the right direction and help you find the best trading platform for your trading style and experience level.

Experience

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In the land of Forex markets, experience is everything. Depending on the type of broker that you get, you can end up with someone who has never stepped on the trading floor at all. The type of broker you choose can have you coming across people with varying degrees of actual experience with trading.

If you want to make money, would you go with a complete rookie or someone who’s been battle tested?

Always remember that the type of broker that you choose can significantly affect your overall experience with Forex trading.